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SNAPSHOT S&P futures drop as jobless claims data stokes slowdown fears

2023-04-06T12:37:19Z

Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 31, 2023. REUTERS/Andrew Kelly

Futures tracking the benchmark S&P 500 index extended declines on Thursday as stronger-than-expected weekly jobless claims data deepened fears of a recession due to a rapid rise in interest rates.

A Labor Department report showed initial claims for state unemployment benefits stood at 228,000 last week. Economists polled by Reuters had expected 200,000 jobless claims in the latest week.

At 8:32 a.m. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were down 3.5 points, or 0.09%, and Nasdaq 100 e-minis were down 43.25 points, or 0.33%.

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